KBRA Assigns Preliminary Ratings to Research-Driven Pagaya Motor Asset Trust 2026-3 and Research-Driven Pagaya Motor Trust 2026-3
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KBRA has assigned preliminary ratings to 15 classes of notes from the Research-Driven Pagaya Motor Asset Trust 2026-3 and Research-Driven Pagaya Motor Trust 2026-3, totaling $384.72 million. The transaction features initial credit enhancements ranging from 96.93% for Class A-1 to 5.75% for Class E-2 notes. The proceeds will fund prefunding and reserve accounts, as well as cover transaction expenses. Pagaya Technologies, the parent company, is publicly traded on NASDAQ under the ticker PGY.
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